Baku, Azerbaijan, June 28
By Azad Hasanli – Trend:
Hungarian Export-Import Bank Plc (Eximbank) plans to open a credit line for Azerbaijan’s PASHA Bank OJSC in the amount of $5 million, which will contribute to further development of cooperation between the two countries, said Hungary’s Minister of Foreign Affairs and Trade Peter Szijjarto.
He made the remarks June 28 in Baku during the 6th meeting of the Azerbaijani-Hungarian intergovernmental commission on economic cooperation.
Szijjarto said Eximbank has already opened a credit line in the amount of 200 million euros for the development of cooperation between the two countries’ companies.
In general, speaking about the cooperation between Hungary and Azerbaijan, Szijjarto noted that the political ties established between the two countries in recent years gave a great impetus to the development of cooperation in trade and economy.
“As for the dynamics of the trade turnover, we can consider it as positive, but in general we can not be satisfied with the figures,” said Hungarian minister. “Thus, it is necessary to identify the key areas, in which our cooperation can develop even more intensively.”
He went on to add that there are opportunities for cooperation in the spheres of energy, ICT, agriculture and others.
“We will be glad, if the devaluation of the national currency in Azerbaijan does not affect the decrease in import volume of agricultural products from Hungary,” said Szijjarto. “We think that the export of agricultural and food products has always been a driving force in bilateral trade turnover.”
ICT is a very important area of cooperation between the two countries and is worthy of close attention, noted the minister.
He also expressed hope that Hungarian companies will be involved in the creation of a regional data center in Azerbaijan.